Fundamental analysis for May 03, 2016

3 May, 2016

The dollar fell from eight-month lows against the other major currencies. The dollar was under pressure after the political decisions of the Bank of Japan and the Federal Reserve System. The event calendar was empty yesterday amid the Labor Day celebration. According to William Dudley (the New York Fed Governor) the Fed should have more powers to provide emergency financial support for investment firms in case of liquidity problems.

The EUR/USD set new session highs after Manufacturing PMI report in the Eurozone and Germany. The Manufacturing PMI in the Eurozone came in at 51.7. Manufacturing PMI in Germany showed 51.8. Mario Draghi gave a speech at the Asian Development Bank conference in Asia. According to him there is no alternative to the soft monetary policy until we see positive prospects of the world economy.

In Britain, the markets did not work amid Early May celebration.

On Monday, the yen rose to new 18-month highs. The dollar fell when the market found out that the Japanese regulator would not intervene the foreign exchange market to weaken the national currency. Nikkei Manufacturing PMI came in at 48.2 versus the previous value of 48.0.


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Positive market sentiment persists

On Tuesday, US markets continued to gain, after a positive start of the trading week on Monday. It is characteristic that on the positive sentiment...

Equity markets continue to decline

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Asian equity indexes mixed

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Mixed sentiment takes on in Asia

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Euro is firm at current levels

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Gold reversed some losses

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Pound tested 1.3200 and stopped

The buying interest persists in the market. All technical indicators are positive supporting buy orders. The resistance lies at 1.3300, the support comes...

Brent failed to approach 49.50

Sellers kept driving the benchmark lower the whole night and found an obstacle at 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars...

DAX index turned bearish

The benchmark broke 12600 first and then weakened down to 12527. Bulls returned control in the early European session and returned the price to 12600...

  


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